First cross-border repo executed in Chinese bond market
ICBC Singapore raises 200 million yuan on China's interbank bond market in 'landmark' deal
Singapore's authorised renminbi clearing bank has executed the first cross-border repo transaction in China's interbank bond market since the People's Bank of China (PBoC) opened it up to foreign investors in June.
The Singapore branch of the Industrial and Commercial Bank of China (ICBC), which was designated a renminbi clearing bank in 2013, said today (July 20) it had raised 200 million yuan ($32 million) in a "landmark" transaction that will "support the local financial sector in tapping"
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